March 31, 2017 / 8:33 AM / 4 months ago

BRIEF-Apollo LogiSolutions forms JV with Singamas Container to facilitate liquid logistics ops in India

2 Min Read

March 31 (Reuters) - Apollo Logisolutions:

* Apollo Logisolutions forming JV with Singamas Container Holding

* Apollo Logisolutions will hold 70% stake in joint venture

* JVCO to invest INR 3 billion in next three years

* JV to facilitate liquid logistics operations in India

* Apollo logisolutions says joint venture called 'ALS Singamas Logistics Ltd' Source text: [Apollo LogiSolutions Limited (ALS) and Singamas Container Holdings Limited (“Singamas”) have formed a Joint Venture for liquid logistics operations in India. This brings into account the movement of all types of non-POL liquids either by rail or road, operation and management of movement of liquid tanks, their maintenance and cleaning. Apollo LogiSolutions Limited will hold 70% stake in this joint venture. The joint venture ‘ALS Singamas Logistics Ltd’, will invest over Rs 300 crores over the next three years to develop an ecosystem and deliver value to its customers. ALS Singamas Logistics Ltd also aims to reduce the carbon footprint by consolidating its efforts to move container traffic from roads to railways. The partnership with Singamas, a PIL subsidiary, will help leverage innovation and technological aspect of the business and will also enable the use of specialized tanks with GPS enablement for transport facilities. It will also bring into use containers with enhanced capacity which will facilitate easy movement of logistics.]

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